Coindesk Logo

Austrian Energy Group Eyes Blockchain With Vienna Test

Austrian Energy Group Eyes Blockchain With Vienna Test

Austrian Energy Group Eyes Blockchain With Vienna Test

Wien Energie intends to pilot blockchain products in a sustainably designed Viennese urban district this year.

Wien Energie intends to pilot blockchain products in a sustainably designed Viennese urban district this year.

Wien Energie intends to pilot blockchain products in a sustainably designed Viennese urban district this year.

AccessTimeIconFeb 8, 2018, 3:15 AM
Updated Aug 18, 2021, 8:08 PM

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Wien Energie, the largest energy supplier in Austria, is testing a range of blockchain use cases in anticipation of rolling out fully-fledged services that might soon incorporate them.

"We are testing blockchain-based services in Vienna's Viertel Zwei and once we have collected enough experience there, we will develop business models and bring them to the market," Wien Energie's chief innovation officer, Astrid Schober, told Reuters.

Those offerings could include electric car stations that are connected via the technology, as well as services around land registry and power supply, among others.

Wien Energie has previously trialed blockchain technology in its commodity trading operations, and Schober indicated that the company does not want to be left behind in the technology's wake.

"If the technology means there are no more intermediaries anymore, it becomes an issue for us, so we are actively looking into other business models," Schober said.

Wien Energie is also part of Enerchain, a consortium of European utility providers that are piloting new trading platforms. As previously reported by CoinDesk, the energy industry has shown a keen interest in integrating blockchain technology.

In late January, for example, the U.S. Department of Energy announced a partnership with blockchain startup BlockCypher to explore peer to peer energy exchanges. Likewise, Shell, BP and others decided to back a blockchain trading platform last year.

Power lines image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.